Princes of the Yen

[Nonc Hilaire]

Award winning documentary on the development of modern Japanese economy, this film does an outstanding job of explaining basic central banking principles using Post-war Japan as an example. An excellent job of clarifying a confusing subject applicable in all modern economies.

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[Parodite]

Monopolies suck.

[Nonc Hilaire]

Monopolies suck.

And cartels. I especially liked the explanation of credit bubbles and why banks make such obviously bad loans. I kinda knew it, but this film makes it crystal clear.

[Typhoon]

Misunderstandings and neglect occasion more mischief in the world than even malice and wickedness.
At all events, the two latter are of less frequent occurrence.

~ The Sorrows of Young Werther by Johann Wolfgang von Goethe

Or my preferred modern version

Never attribute to conspiracy that which can be explained by abject stupidity.

Central banks are neither all knowing or all powerful.
When it comes to the economy, they are as clueless as the rest of us.

[noddy]

Therein lies the core difference between the more libertarian view on economics versus the more authoritarian one.

On this very topic, the local rag has a fluff piece that deliberately distorts all this in a way I find delightfully comical


https://www.news.com.au/finance/economy ... 873397bb17

The graph shows wages growth falling below 2 per cent a year, and the Reserve Bank of Australia, our independent economic policy brains trust, failing to expect it. Their forecasts repeatedly show an expectation the problem will get better. Meanwhile, it gets worse. This sequence of events explains a great deal about Australia’s economic malaise. Nobody expected it to come to this.

TLDR; dogma is that globalisation and immigration make us richer, so how could anyone explain why the opposite happened.